LocalBitcoins Review: Buy/ Sell Bitcoins Locally Anywhere Through LocalBitcoins

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For a long time, LocalBitcoins was once the most popular Bitcoin P2P trading platform. Today, it stays a famous alternative due to these features:

One of the oldest bitcoin exchanges. LocalBitcoins is the original Bitcoin P2P market and has been working considering 2012. As such, the provider is depended on by more than a million users worldwide and has quite decent liquidity for a P2P trade regardless of the ever-growing numbers of copycat services.
Escrow carrier with a built-in reputation system. It makes it easy to locate reputable shoppers and sellers, as well as perceive and avoid suspicious offers.
Secure platform. Despite quite a few minor breaches over the years, LocalBitcoins is a impervious platform for buying and promoting bitcoin.
Regulated exchange. Despite the backlash of the community, the LocalBitcoins team is committed to advertising trust, maturity, and legitimacy of Bitcoin in a regulatory compliant manner.
The widest selection of payment options. LocalBitcoins offer all of the nearby price options, regardless of your united states of residence.
Truly international platform. LocalBitcoins facilitate peer-to-peer trades in greater than 248 countries worldwide, hence making it easy to find local bitcoin merchants in your area.

The alternate used to be a go-to region for shopping for and selling Bitcoin anonymously and was in particular popular in nations with oppressive regimes and cryptocurrency bans. However, due to the European 5th Anti-Money Laundering Directive (also known as 5AMLD), the platform has chosen to vet all of its customers the usage of normal KYC (Know Your Customer) strategies and removed the option to buy Bitcoin with cash from its platform. This has precipitated a wave of discontent in the Bitcoin community, and the LocalBitcoins buying and selling extent and recognition has been regularly declining ever since.

Despite these recent developments, it remains a attainable option for everybody who doesn’t thinking disclosing their private facts or does not choose to deal in cash.

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Who owns LocalBitcoins?
LocalBitcoins was based in 2012 by Jeremias and Nicholas Kangas, who served as the platform’s CEOs till 2017. As of today, the CEO of LocalBitcoins is Sebastian Sonntag.

Unlike its oblique competitor Coinbase, which was once based in the equal year, LocalBitcoins have managed to develop to this measurement barring any external investment. As of 2021, LocalBitcoins appoint over 60 group of workers members.

LocalBitcoinsLocated in the capital of Finland, Helsinki, LocalBitcoins is regulated by the Financial Supervisory Authority (FIN-FSA). Hence, it acts in accordance with the Act of Virtual Currency Service Providers, which is the Finnish implementation of the European Union’s Fifth Anti-Money Laundering Directive (AMLD5). In fact, the trade has been advising the country’s regulatory agencies on how to adapt to the new requirements of compliance in the cryptocurrency industry.

As a result, nowadays LocalBitcoins platform is paving the way for a extra viable, safer, and great use of bitcoins while concurrently warfare the use of Bitcoin community in crook activities and frauds.

The full address of the trade is LocalBitcoins Oy, Porkkalankatu 24, 180 Helsinki, Finland. The VAT ID of the carrier is FI28554152.

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LocalBitcoins Locations
LocalBitcoins is a genuinely worldwide platform even although it geared closer to facilitating bitcoin traders locally. Its offerings are available in most locations worldwide, consisting of nations like the United States, Venezuela, Zimbabwe, Nigeria, China, India, Kenya, Iran, Qatar, Lebanon, Israel, Pakistan, Netherlands, Russia, South Korea, Philippines, Malaysia, Argentina, Romania, Uganda, Turkey, Kazakstan, Thailand, Spain, Ireland, Brazil, the United Kingdom (UK), and many more.

Besides, the platform is terrific for finding peer-to-peer shoppers and marketers in distinctly populated cities like Tokyo, London, New York, San Francisco, San Diego, Toronto, Montreal, and many others.

LocalBitcoins volume

As of February 2021, LocalBitcoins allows Bitcoin traders in 248 nations and 7938 cities.

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